Daily Forecast - 05 September 2014

Gasoil September contract

Gasoil

Gasoil held important resistance at 869 as expected & again this is key for today. A break above 873 looks unlikely but would be a positive signal & could lead prices higher again to 876 then 881/882. Exit longs & try shorts from here up to strong resistance at 884.

Today's key support at 864/862 but the outlook remains quite negative & below here can target 858 then good support at 856. This could hold the downside but if we continue lower look for 853/852 then a retest of this week's low at 849/848.

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